Equity market gains N795bn

The Nigerian Stock Exchange experienced a surge of N795bn in market capitalisation on the first trading day of the week, bringing the total market capitalisation to N64.44 trillion.

The All-Share Index increased by 0.79 per cent, gaining 820.65 points to close at 104,418.95. This represents a one-week gain of two per cent and a four-week gain of 2.24 per cent.

The market breadth closed positive as 38 equities gained while 30 equities declined in share prices.

Beta Glass led the gainers with a 9.98 per cent increase in its share price, closing at N65.00 per share. RT Briscoe followed with a 9.92 per cent rise, while Access Holdings gained 9.88 per cent, and Chellarams rose by 9.83 per cent.

On the other hand, MRS Oil Nigeria saw the highest loss, declining by 10 per cent to close at N180.90 per share. Transcorp Hotels dropped by 9.97 per cent, Eunisell fell by 9.95 per cent, and John Holt lost 9.64 per cent of its value.

In terms of volume, Access Holdings recorded the highest trading volume with 51 million shares, followed by FCMB Group with 40.3 million shares, Sterling Bank with 38.9 million shares, and Zenith Bank with 33.2 million shares.

The Banking Index saw a significant rise of 4.71 per cent, while the Pension Index increased by 2.1 per cent, and the Consumer Goods Index rose by 1.74 per cent.

The PUNCH reported that the Nigerian equity market recorded a surge last week, as the All-Share Index and market capitalisation appreciated by 1.22 per cent and 1.26 per cent, respectively.

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